Subject: File No. 4-606
From: Thomas L Littleton, CLU, LUTCF
Affiliation: NAIFA

July 30, 2010

I discontinued my security license in 2008 after 20 years of having the license. Over regulation by FINRA over my 20 years licensed, was enough. Also, liabilities concerning product recommendations as well as product performance seemed to always go against the registered representative. Giving up my license was not an easy decision to make. Having studied, maintaining the required CE, and going through the audits became too much to bare.
The income versus potential liabilities did not compute. Because too many times registered representatives were fined greater than the money they earned. So, the final decision to discontinue my license overshadowed the income I could potentialy make.